Wells Fargo & Company Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its target price raised by Wells Fargo & Company from $74.00 to $81.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms also recently weighed in on UNM. Jefferies Financial Group raised their price target on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Unum Group from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Truist Financial upped their target price on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group upgraded shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley upped their price objective on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and a consensus price target of $75.45.

Unum Group Trading Up 1.4 %

Shares of UNM stock opened at $74.39 on Tuesday. Unum Group has a fifty-two week low of $44.83 and a fifty-two week high of $77.63. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $73.49 and a 200-day simple moving average of $62.64. The stock has a market cap of $13.59 billion, a P/E ratio of 8.05, a P/E/G ratio of 0.97 and a beta of 0.81.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, analysts forecast that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the transaction, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. This represents a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,914 shares of company stock valued at $7,998,745. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after buying an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 179 shares during the period. CIBC Asset Management Inc grew its position in Unum Group by 3.4% in the third quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 180 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Unum Group by 38.2% during the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 194 shares during the period. Finally, Brooklyn Investment Group lifted its position in shares of Unum Group by 3.1% during the third quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.